Module 5: Glossary

Question 1

Credit check

Answer 1

A check that assesses the level of risk involved in providing financial services to a customer

Question 2

Cybercrime

Answer 2

Crime committed on a computer or over a computer or Internet network

Question 3

Macro-prudential Regulation

Answer 3

Regulation concerned with the stability of the financial system as a whole

Question 4

Micro-prudential regulation

Answer 4

Regulation concerned with the safety and longevity of individual banks and financial Institutions

Question 5

Systemic failure

Answer 5

A situation that occurs when many banks in a country are in financial difficulty at the same time due to the interconnected of the financial system

Question 6

Rate of inflation

Answer 6

The change in prices for good and services overtime

Question 7

Legal tender

Answer 7

A form of money or payment that is recognised by the law of that country as a way of setting a financial obligation

Question 8

Controller

Answer 8

A person or organisation who determines why Personal data should be collected and how it will be used

Question 9

Processor

Answer 9

A person or organisation who is responsible for processing personal data on behalf of a controller